US Slaps 25% Tariff on Timber, Lumber, Sparking ASEAN Concern
The US has implemented a 25% tariff on timber, lumber, and related products such as kitchen cabinets. This action, along with prior tariffs on patented pharmaceuticals and heavy trucks, has sparked concern among ASEAN nations. They recently met with US Trade Representative Jamieson Greer to urge a reduction, but he declined.
The new tariffs on wood products, announced by the US Trade Representative, have raised eyebrows in ASEAN. The region's economic ministers appealed to Greer during their meeting, but he maintained the US position. This comes as the two parties continue negotiations on trade deals. If talks stall, the US has hinted at further tariffs.
Previously, US President Donald Trump had imposed a 100% tariff on patented pharmaceuticals and a 25% tariff on heavy trucks. These measures have added to the trade tensions between the US and ASEAN.
The US tariffs on timber, lumber, and other products have escalated trade tensions with ASEAN. While negotiations continue, the US maintains its stance on tariffs. If talks collapse, more tariffs could be imposed, potentially straining relations further.
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